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| CHCR.OB > SEC Filings for CHCR.OB > Form 8-K on 16-Sep-2008 | All Recent SEC Filings |
16-Sep-2008
Entry into a Material Definitive Agreement
On September 10, 2008, Comprehensive Care Corporation ("CompCare") entered into a Purchase Agreement ("Agreement") with Robert Lange ("the Purchaser"). Pursuant to the Agreement, the Purchaser purchased 300,000 CompCare common shares for $75,000. CompCare intends to use the net proceeds from the sale of the securities hereunder for working capital and general corporate purposes. A copy of the Agreement is attached hereto as Exhibit 10.1. As a result of the transaction, Mr. Lange owns 625,500 shares of CompCare common stock or approximately 7.5% of the total number of shares outstanding. Item 3.02. Unregistered Sale of Equity Securities.
The CompCare common shares were sold to the Purchaser in a private
transaction not involving a public offering. Based on certain representations
and warranties of the Purchaser in the Agreement, CompCare relied on
Section 4(2) of the Securities Act for an exemption from the registration
requirements of the Securities Act. The CompCare common shares purchased have
not been registered under the Securities Act of 1933, as amended, and may not be
sold in the United States absent registration or an applicable exemption from
registration requirements.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
10.1 Purchase Agreement dated September 10, 2008 between Comprehensive Care
Corporation and Robert Lange.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Certain information included
in this report on Form 8-K and in other Company reports, SEC filings,
statements, and presentations is forward looking within the meaning of the
Private Securities Litigation Reform Act of 1995, including, but not limited to,
statements concerning the Company's anticipated operating results, financial
resources, increases in revenues, increased profitability, interest expense,
growth and expansion, and the ability to obtain new behavioral healthcare
contracts. Such forward-looking information involves important risks and
uncertainties that could significantly affect actual results and cause them to
differ materially from expectations expressed herein and in other Company
reports, SEC filings, statements, and presentations. These risks and
uncertainties include, but are not limited to, changes in local, regional, and
national economic and political conditions, the effect of governmental
regulation, competitive market conditions, varying trends in member utilization,
our ability to manage healthcare operating expenses, our ability to achieve
expected results from new business, the profitability of our capitated
contracts, cost of care, seasonality, the Company's ability to obtain additional
financing, and other risks detailed from time to time in the Company's SEC
reports.
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